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How to account for 1099 MISC from AmeriCorps Education Award

sarah-twomeymerc — Thu, 06 Jun 2019 05:26:40 GMT

My husband and I both used $500 each of our AmeriCorps Education Award. What is the best way to note this on our taxes?

n/a

kirkzw — Thu, 06 Jun 2019 05:26:41 GMT

n/a

The Segal (Americorps) Award is handled a bit differently...

BarbL — Thu, 06 Jun 2019 05:26:43 GMT

The Segal (Americorps) Award is handled a bit differently than most education benefits.

You probably received a 1099-MISC for the amount you used. To enter the 1099-MISC, click on Federal Taxes (on the top menu bar) and then Wages and Income. When the page opens, click "Jump to full list” if it is not displaying the full list of income items. Scroll down to the very last item, Less Common Income and click “Show More” to expand the list. Select "Miscellaneous Income, 1099-A, 1099-C".

On the page that opens, again choose the very last item, "Other reportable income". Reply that you did receive this type of income, then enter "Americorps 1099-MISC" for a description and the amount. This will put the income on Line 21 of your 1040, as required by the IRS. You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.

Because the award is taxable income, any tuition, fees, books, and supplies paid with the amount is eligible for education credits. If your Segal Award is reported on both the 1098-T and the 1099-MISC, enter the 1099-MISC as directed above. When completing your education section, indicate that you did NOT receive a 1098-T and you will be able to enter your expenses without the form. Do not enter the taxable amount of the Segal Award.

You actually don't have to report your segal award and wo...

ssteven2 — Thu, 06 Jun 2019 05:26:44 GMT

You actually don't have to report your segal award and won't get a 1099-MISC unless the amount used was equal to or more than $600. Not sure if the amount is accumulated for couples, though.

This answer should be updated to fit the selections avail...

qbutta13 — Thu, 06 Jun 2019 05:26:45 GMT

This answer should be updated to fit the selections available on the TurboTax website. Confusingly, one of the pages says "do not enter 1099-MISC form information here, but the steps above say to do so. Also, in order to add a 1099-MISC form, you can't use the free version of TurboTax.

That's the exact problem I'm having.

kwaeisi-golliday — Thu, 06 Jun 2019 05:26:45 GMT

That's the exact problem I'm having.

I had the same issue come up. It states that I need to bu...

p-dedios7 — Thu, 06 Jun 2019 05:26:47 GMT

I had the same issue come up. It states that I need to buy the deluxe version to complete it.

Me too! Is there an alternative way to file, outside of t...

carlymcandrews — Thu, 06 Jun 2019 05:26:48 GMT

Me too! Is there an alternative way to file, outside of turbo tax?

It says "When completing your education section, indicate...

kirkzw — Thu, 06 Jun 2019 05:26:50 GMT

It says "When completing your education section, indicate that you did NOT receive a 1098-T and you will be able to enter your expenses without the form." What if I used the AmeriCorps Ed. Award and other scholarships and grants in the same year?
I have a 1098-T form from school with numbers in Box 1 and Box 5, and a 1099 MISC from AmeriCorps.

Im in the same situation as krikzw!

user321564 — Thu, 06 Jun 2019 05:26:51 GMT

Im in the same situation as krikzw!

When I looked up how to file the 1099-misc, it brought me...

jarchie75 — Thu, 06 Jun 2019 05:26:53 GMT

When I looked up how to file the 1099-misc, it brought me to a Turbo Tax alternative- maybe this will allow us to file for free still with including our Segal Payouts. <a rel="nofollow" target="_blank" href="https://www.americorpsalums.org/page/FreeTaxReturns">https://www.americorpsalums.org/page/FreeTaxReturns</a>

Re: You actually don't have to report your segal award and wo...

hvents4 — Mon, 08 Jul 2019 16:55:24 GMT

Hi, can you confirm this with a link to some kind of official tax forms? I want to ensure i am using my award properly and for the most tax benefits.

Thank you!

Re: The Segal (Americorps) Award is handled a bit differently...

4233278 — Sun, 02 Feb 2020 22:55:22 GMT

Hi, this answer is not helpful. TurboTax keeps interpreting this education award as self-employment, despite following these steps.

Re: The Segal (Americorps) Award is handled a bit differently...

JamesG1 — Sun, 02 Feb 2020 23:59:05 GMT

This help specifically states:

“You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.”

Re: The Segal (Americorps) Award is handled a bit differently...

kams — Sat, 08 Feb 2020 20:21:50 GMT

When I go to plug in my 1099-MISC it specifically says:

Enter a brief description and amount for any item of other miscellaneous taxable income you received in 2019.

Do not enter income reported on Form 1099-MISC

Description *box*

Name *box*

It is contradicting itself! What do I do?!?!?! My 1099-MISC is from Americorps.

@BarbL

Re: The Segal (Americorps) Award is handled a bit differently...

KrisD15 — Sun, 09 Feb 2020 01:15:16 GMT

DON'T ENTER IT AS A 1099-MISC

Sign into your account and start the return (Pick up where I left off)

Click Federal on the left side-bar

Click Wages & Income along the top

(Click “I’ll pick what I want to work on” and click “Add more Income” and “See list of all income” if needed)

FOR ONLINE:

Under Income scroll to the bottom and click Show more under “Less Common Income”

Scroll to the bottom “Miscellaneous Income, 1099-A, 1099-C and click Start

Scroll to the last choice and click Start next to “Other reportable income”

(this screen says “Do not enter income reported on Form 1099-MISC. Please disregard this warning for the Americorp 1099-MISC)

Type Americorps 1099-MISC as the description and the amount and Continue

Click Done on the next page

The online program puts the amount on line 8 with the description of “Americorps 1099-MISC".

This is how the IRS wants it reported

It will not be treated as self-employment.

Re: The Segal (Americorps) Award is handled a bit differently...

crice18 — Mon, 10 Feb 2020 21:51:38 GMT

So the online form won't allow me to put Americorps 1099-MISC in the amount section do I just continue on and leave it as is?

Re: The Segal (Americorps) Award is handled a bit differently...

KrisD15 — Mon, 10 Feb 2020 22:05:29 GMT

No, you put the amount into the amount box, (Box 3)

you type Americorps-1099-misc into the description field

Re: The Segal (Americorps) Award is handled a bit differently...

Fundu — Wed, 18 Mar 2020 23:24:33 GMT

Thank you for this help!

Re: The Segal (Americorps) Award is handled a bit differently...

cven07 — Sat, 28 Mar 2020 01:10:37 GMT

Hello,

I reported both my 1098T and additional Americorps award via the approach outlined here, listing additional income because I have scholarships that are different from the americorps award. Is it wrong that I included both?